The company plans to develop the project in east Pune near Kalyani Nagar spread across 6 acres with a saleable area of 5 lakh sq ft under its brand name BelmacSanu Sandilya | ETRealty | July 07, 2016, 17:39 IST

NEW DELHI: Mumbai based BSE listed firm Supreme Holdings & Hospitality (India), with interests in hotels and land bank acquisitions, has forayed into the residential real estate segment with a Rs 370 crore project in Pune.

The company plans to develop the project in east Pune near Kalyani Nagar spread across 6 acres with a saleable area of 5 lakh sq ft under its brand name Belmac.

"We have forayed into the residential segment after studying the Pune market for over one year. The total investment in the project would be around Rs 370 crore," said Vidip Jatia, Director, Belmac Residences.

The company has launched 90 out of the total 240 units of 2,3 and 4 BHK apartments, with price range starting from Rs 1.2 crore.

Supreme Holding also has a 45-acre land bank in Mumbai's Panvel and is looking to develop an integrated township in the Navi Mumbai Airport Influence Notified Area (NAINA).

"Once we receive the DCR (Development Control Regulations) from the state government, we will formalise the plan. We are at present doing the ground work for the same," he said.

The company entered the capital market in the year 1995, after which the Jatia Hotels and Resorts and Royalways Trading & Investments Services merged with the company in 2011.